RICHEN(SH:603755)2020-04-27 16:00Financial Performance - Operating revenue decreased by 15.53% to CNY 45,962,450.97 compared to the same period last year[5] - Net profit attributable to shareholders increased by 0.81% to CNY 14,741,409.74 compared to the same period last year[5] - Basic and diluted earnings per share decreased by 25.00% to CNY 0.15 compared to the same period last year[5] - Total revenue for Q1 2020 was CNY 45,962,450.97, a decrease of 15.5% compared to CNY 54,415,052.99 in Q1 2019[19] - The company's operating revenue for Q1 2020 was CNY 45,661,848.70, a decrease of 15.2% compared to CNY 53,905,726.01 in Q1 2019[23] - Net profit for Q1 2020 was CNY 14,741,409.74, slightly up from CNY 14,622,569.76 in Q1 2019, representing an increase of 0.8%[24] - The operating profit for Q1 2020 was CNY 17,315,051.61, compared to CNY 17,198,655.74 in Q1 2019, indicating a growth of 0.7%[23] - The total comprehensive income for Q1 2020 was CNY 14,741,409.74, compared to CNY 14,622,569.76 in Q1 2019, reflecting a slight increase of 0.8%[24] Assets and Liabilities - Total assets increased by 2.10% to CNY 644,750,187.64 compared to the end of the previous year[5] - The company's total liabilities decreased to RMB 48,047,195.16 from RMB 49,520,991.50, indicating a reduction of about 2.97%[15] - Total current assets increased to CNY 595,204,790.66 from CNY 580,915,402.50 at the end of 2019, reflecting a growth of 2.2%[17] - Total liabilities decreased to CNY 47,951,428.54 from CNY 49,265,385.14, a reduction of 2.7%[18] - Current liabilities totaled ¥48,479,784.85, with accounts payable at ¥32,670,727.89[37] Cash Flow - Net cash flow from operating activities decreased by 526.11% to -CNY 4,353,309.79 compared to the same period last year[5] - The cash flow from operating activities for Q1 2020 was negative at CNY -4,353,309.79, a decline from CNY 1,021,629.53 in Q1 2019[27] - The total cash flow from investing activities was negative at CNY -48,782,764.67, compared to CNY -747,753.00 in Q1 2019[27] - The company reported a net decrease in cash and cash equivalents of 52,913,075.64 RMB, compared to a decrease of 44,652,068.09 RMB in the same period last year[30] Shareholder Information - The total number of shareholders reached 5,539 at the end of the reporting period[7] - The largest shareholder, Qingdao Boya Investment Holding Co., Ltd., holds 56.24% of the shares, with 1,297,710 shares pledged[7] Government Subsidies - Non-recurring gains and losses amounted to CNY 203,705.76, primarily from government subsidies[6] - The company received various government subsidies totaling CNY 589,548.31 during the reporting period[6] Inventory and Receivables - Accounts receivable increased to RMB 54,422,855.50 from RMB 46,121,801.25, marking a rise of approximately 17.67%[13] - Inventory levels rose to RMB 26,062,210.76, compared to RMB 22,498,429.19, reflecting an increase of about 15.36%[13] Financial Indicators - The weighted average return on net assets decreased by 5.81 percentage points to 2.50% compared to the same period last year[5] - The company reported a significant decrease in employee compensation payable, which fell to RMB 3,752,317.88 from RMB 8,238,149.09, a reduction of approximately 54.5%[14] Compliance and Standards - The company executed new revenue and lease accounting standards starting January 1, 2020, impacting financial reporting[39] - The company is committed to adhering to the revised accounting standards as mandated by the Ministry of Finance[39] Research and Development - Research and development expenses for Q1 2020 were CNY 1,809,884.59, a decrease of 22.5% from CNY 2,338,721.14 in Q1 2019[23]